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Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

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First Change in 52 Years For This Mining Power

I'm always on the lookout for regulatory changes globally. Being that they can create some of the best investment opportunities going--or destroy them.

Rule changes for the private oil and gas sector in Mexico are obviously a big one right now. Lesser-followed shifts in Malaysian petroleum regulations are also creating opportunities.

On the minerals side, we're seeing things change in Brazil. And new South African mining rules are also coming down the pipe.

This month we also got the first inklings that a shift is underway in another important mining district: Tanzania.

East African Business Week reports that the Tanzanian Bureau of Standards is in the "final stages" of issuing a new regulatory framework for minerals here (apparently including oil and gas).

Officials suggested this will be the first time in Tanzania's 52-year history that overarching standards for minerals are introduced. There was little clarification on the exact goal of such legislation--beyond the fact it would create "a standard to measure minerals."

This could end up being a non-event. But it's worth putting on the radar screen. Tanzania is an important gold producer, also holding good potential for nickel and platinum group elements. The country has lately also seen development on a number of uranium projects--a fact that may have pushed the formulation of the new mineral standards.

The language used by officials suggests these rules could simply be aimed at better accounting around reserves and production. But it's always possible that such initiatives are used to introduce production limits or local processing quotas.

None of that has been mentioned specifically, of course. Keep an eye on announcements here over the coming months to get full details on how this might affect domestic miners, and global industry.

Here's to keeping things standard,

By Dave Forest


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